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Weekly Broker: Cape scramble

The dry bulk sale and purchase market has stayed bullish this past week with large size vessels being the main target assets, aligning with the strong business volumes on the capesize chartering market. The optimistic market outlook is also having an upward impact on secondhand asset values.

“On the dry bulk side, a very strong week in terms of activity noted was due. The main driver was the capesize segment, where a significant number of vessels changed hands as of late. This, however, may well be down to the mere fact that we have seen an excessive bullish trajectory in freight returns during the past month or so. Moreover, given the general improved levels in freight rates and the better sentiment, it is yet to be seen whether we will continue seeing a very vivid SnP market, with an attuned buying appetite being shared across all the main size segments,” Allied Shipbroking said in its weekly report.

Allied Shipbroking, Intermodal and Lorentzen & Stemoco all listed the sale of 2000-built 88,000 dwt kamsarmax Corona Horizon. K Line sold it to Indonesian buyers for a price of $5.9m.

Clarksons, Allied Shipbroking, Intermodal and Banchero Costa all reported an en bloc deal in which Indian owner Chowgule Steamship sold two 32,000 dwt handy bulkers, the 2011-built Maratha Paramount and the 2012-built Maratha Prudence. The two vessels were sold to Greek buyers for $8.5m each.

“On the tanker side, a w-o-w growth in transactions was noted, with overall activity though remaining at relatively uninspiring levels for a fair period now. During the past week, we saw a fair movement only in the MR size segment, with the bigger sizes experiencing a rather sluggish mode, which seems inline somehow with the general mediocre track in terms of freight earnings as of late,” Allied Shipbroking said.

Seasure Shipbroking and Lorentzen & Stemoco listed the sale of the 2001-built 42,700 dwt MR tanker Valle Di Siviglia. Italian owner Montanari Navigazione sold it to Asian buyers for $7.3m.

The containership sale and purchase market has also seen a pick up in activities this week.

Braemar ACM Shipbroking reported that Greek owner Costamare has acquired the 2005-built 6,400 teu MOL Partner and MOL Paradise for a price slightly in excess of $19m en bloc.

Lorentzen & Stemoco listed an en bloc sale by PIL for two 1997-built 1,550 teu ships Sarera and Sahare. The vessels were sold to Bangladeshi company Karnaphuli for $2.3m each.

Additionally, more than five shipbroking houses reported that German owner Rass Reederei sold the 2007-built 604 teu boxship Hoheweg to compatriot owner Jens and Waller for a price of $2.1m. The vessel has been renamed Helene.

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Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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